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Easy-to-grow strain of wheat increases farm harvests

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GDP Application

Consider whether each of the following events is likely to increase or decrease real GDP. In each case, do you think the well-being of the average person in society most likely changes in the same direction as real GDP? Why or why not?

A. A hurricane in Florida forces Disney World to shut down for a month.

B. The discovery of a new, easy-to-grow strain of wheat increases farm harvests.

C. Increased hostility between unions and management sparks a rash of strikes. throughout the economy experience falling demand, causing them to lay off workers.

Reference no: EM132479022

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